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Pengaruh siklikalitas dan size perusahaan terhadap Beta Unleverage Firm: studi empiris di Bursa Efek Jakarta

Jurnal Ekonomi, Volume X, Nomor 1, Januari 2006
Journal from JIPTUNMERPP / 2008-02-12 03:54:33
Oleh : Miswanto, Faculty_of_Economics_-_Merdeka_University_Malang (briatmanto@yahoo.com)
Dibuat : 2006-01-01, dengan 0 file

Keyword : beta, cyclicality, risk, size, and unleverage

The common stock beta for a unleverage firm reflects the business risk. The beta the sensitivity of a stock’s returns of the market portfolio. It is also referred as systematic risk, Risk that related to the market, and it can not diversified away. The beta of unleverage firm, is affected by macro economic factors that can not be avoided or diversified. Cyclicality, and firm size are examined as factors which might affect to the business risk. This research has objective to analyses the impact of the cyclicality and firm size to the beta unleverage firm. The study was carried out on the 30 most active manufacturing companies in the Jakarta Stock Exchange, base on trading frequency during 1993-1995 periods. The objective is analysed by using cross sectional linear regression. The result of partial test indicates that the variables of the cyclicality and firm size have significant effect to the beta unleverage firm. The results of simultaneous test also indicate that the cyclicality and firm size have significant effect to the beta unleverage firm. The cyclicality has positive impact on the beta unleverage firm and the firm size has negative impact on the beta unleverage firm.

Deskripsi Alternatif :

The common stock beta for a unleverage firm reflects the business risk. The beta the sensitivity of a stock’s returns of the market portfolio. It is also referred as systematic risk, Risk that related to the market, and it can not diversified away. The beta of unleverage firm, is affected by macro economic factors that can not be avoided or diversified. Cyclicality, and firm size are examined as factors which might affect to the business risk. This research has objective to analyses the impact of the cyclicality and firm size to the beta unleverage firm. The study was carried out on the 30 most active manufacturing companies in the Jakarta Stock Exchange, base on trading frequency during 1993-1995 periods. The objective is analysed by using cross sectional linear regression. The result of partial test indicates that the variables of the cyclicality and firm size have significant effect to the beta unleverage firm. The results of simultaneous test also indicate that the cyclicality and firm size have significant effect to the beta unleverage firm. The cyclicality has positive impact on the beta unleverage firm and the firm size has negative impact on the beta unleverage firm.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiFaculty_of_Economics_-_Merdeka_University_Malang
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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